CVR Refining (CVRR) Expected to Post Earnings of $0.12 Per Share

Brokerages expect that CVR Refining (NYSE:CVRR) will announce earnings per share (EPS) of $0.12 for the current quarter, according to Zacks. Zero analysts have made estimates for CVR Refining’s earnings. CVR Refining reported earnings of $0.45 per share in the same quarter last year, which suggests a negative year over year growth rate of 73.3%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that CVR Refining will report full-year earnings of $1.29 per share for the current financial year. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.30 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow CVR Refining.

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CVR Refining (NYSE:CVRR) last announced its earnings results on Thursday, February 22nd. The oil and gas company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.50). The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.19 billion. CVR Refining had a net margin of 1.57% and a return on equity of 6.62%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share.

Several equities research analysts recently issued reports on the company. Barclays reissued a “hold” rating and set a $17.00 price target on shares of CVR Refining in a research report on Wednesday, January 10th. Zacks Investment Research lowered CVR Refining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Citigroup upped their price target on CVR Refining from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. ValuEngine raised CVR Refining from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, Tudor Pickering lowered CVR Refining from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. CVR Refining currently has a consensus rating of “Hold” and an average target price of $13.70.

Shares of CVRR stock remained flat at $$15.60 on Tuesday. The company had a trading volume of 365,899 shares, compared to its average volume of 478,941. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 1.45. The firm has a market cap of $2,302.56, a price-to-earnings ratio of 26.00 and a beta of 1.35. CVR Refining has a twelve month low of $6.70 and a twelve month high of $18.25.

A number of institutional investors and hedge funds have recently modified their holdings of CVRR. Acadian Asset Management LLC lifted its stake in CVR Refining by 101.4% in the 4th quarter. Acadian Asset Management LLC now owns 1,659,956 shares of the oil and gas company’s stock worth $27,472,000 after acquiring an additional 835,666 shares in the last quarter. Brightline Capital Management LLC bought a new position in CVR Refining during the fourth quarter worth about $13,240,000. JPMorgan Chase & Co. lifted its holdings in CVR Refining by 40.4% during the third quarter. JPMorgan Chase & Co. now owns 758,593 shares of the oil and gas company’s stock worth $7,510,000 after acquiring an additional 218,160 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in CVR Refining by 698.3% during the fourth quarter. Guggenheim Capital LLC now owns 197,967 shares of the oil and gas company’s stock worth $3,276,000 after acquiring an additional 173,167 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in CVR Refining by 23.6% during the fourth quarter. Deutsche Bank AG now owns 675,012 shares of the oil and gas company’s stock worth $11,171,000 after acquiring an additional 129,012 shares in the last quarter. Hedge funds and other institutional investors own 14.36% of the company’s stock.

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CVR Refining Company Profile

CVR Refining, LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. The company owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas; and a complex crude oil refinery in Wynnewood, Oklahoma. It also controls and operates logistics assets, including approximately 570 miles of owned and leased pipelines; approximately 130 crude oil transports; a network of crude oil gathering tank farms; and approximately 6.4 million barrels of owned and leased crude oil storage capacity, as well as approximately 4.6 million barrels of combined refined products and feedstocks storage capacity.

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